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Guarantees (Tables)
 12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Guarantor Obligations The following table presents changes in Farmer Mac's guarantee and commitment obligations in the consolidated balance sheets for the years ended December 31, 2019, 2018, and 2017:
Table 12.1
 For the Years Ended December 31,  
  201920182017
  (in thousands) 
Beginning balance, January 1  $38,683  $38,400  $37,282  
Additions to the guarantee and commitment obligation(1)
4,398  6,202  7,683  
Amortization of the guarantee and commitment obligation  (6,381) (5,919) (6,565) 
Ending balance, December 31  $36,700  $38,683  $38,400  
(1)Represents the fair value of the guarantee and commitment obligation at inception.
The following table presents the maximum principal amount of potential undiscounted future payments that Farmer Mac could be required to make under all off-balance sheet Farmer Mac Guaranteed Securities as of December 31, 2019 and 2018, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans:

Table 12.2
Outstanding Balance of Off-Balance Sheet Farmer Mac Guaranteed Securities
  As of December 31, 2019As of December 31, 2018
  (in thousands)
Farm & Ranch:  
Guaranteed Securities$107,322  $135,862  
USDA Guarantees:
Farmer Mac Guaranteed USDA Securities389,216  367,684  
Institutional Credit:  
AgVantage Securities7,567  9,898  
Revolving floating rate AgVantage facility(1)
—  300,000  
Total off-balance sheet Farmer Mac Guaranteed Securities$504,105  $813,444  
(1)Relates to a revolving floating rate AgVantage facility subject to specified contractual terms. Farmer Mac receives a fixed fee based on the full dollar amount of the facility. This facility was terminated during fourth quarter 2019.
The following table presents the liability and the weighted-average remaining maturity of all loans underlying off-balance sheet Farmer Mac Guaranteed Securities:
Table 12.4
As of December 31,
20192018
(dollars in thousands)
Guarantee and commitment obligation$2,230  $2,804  
Weighted average remaining maturity:
  Farmer Mac Guaranteed Securities9.8 years10.3 years
  AgVantage Securities5.0 years5.0 years
Schedule of Cash Flows Related To Transfer of Securitizations The following table summarizes the significant cash flows received from and paid to trusts used for Farmer Mac securitizations:
Table 12.3
 For the Years Ended December 31,   
  201920182017
  (in thousands) 
Proceeds from new securitizations  $321,414  $382,929  $519,219  
Guarantee fees received  1,413  1,920  2,610  
Schedule of Long-Term Standby Purchase Commitments The following table presents the liability, the maximum principal amount of potential undiscounted future payments that Farmer Mac could be requested to make under all LTSPCs, not including offsets provided by any recourse provisions, recoveries from third parties, or collateral for the underlying loans, as well as the weighted-average remaining maturity of all loans underlying LTSPCs:
Table 12.5
As of December 31,
20192018
(dollars in thousands)
Guarantee and commitment obligation(1)
$34,470  $35,880  
Maximum principal amount3,002,349  3,163,059  
Weighted-average remaining maturity15.2 years15.3 years
(1) Relates to LTSPCs issued or modified on or after January 1, 2003.
Future Minimum Lease Payments The future minimum lease payments under Farmer Mac's non-cancellable leases for its office space and other contractual obligations as of December 31, 2019 are as follows:
Table 12.6
Future Minimum Lease Payments  Other Contractual Obligations  
  (in thousands) 
2020$1,978  $3,223  
20211,982  1,751  
20222,021  1,097  
20231,995  1,090  
20241,311  611  
Thereafter  —  —  
Total  $9,287  $7,772